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China manufacturing slows in March

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Beijing: Chinese manufacturing activity slowed in March as weak demand weighed on the world’s second largest economy, independent data showed on Monday. The Caixin Purchasing Managers Index (PMI) — an indicator of conditions at small manufacturers — dropped to 51.0 in March, down from 51.6 in February, marking the weakest reading since November. A PMI figure above 50 represents growth while anything below points to contraction.


New order growth slowed due to weak foreign demand, and the pace of production level growth slackened, according to a Caixin statement with data compiler IHS Markit.


Inventories of finished items increased marginally while employment dropped. — AFP


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